Publication
May 2003
This paper examines the link between the interventions of the Bank of Japan (BoJ) and the volatility of the yen/US dollar exchange rate. Using official intervention data for the period 1993-2000 the authors find that there is an increasing effect. They find that the interventions of the BoJ, in particular those interventions not reported in the financial press, were positively correlated with exchange rate volatility.
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English (PDF, 17 pages, 429 KB) |
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Author | Michael Frenkel, Christian Pierdzioch, Georg Stadtmann |
Series | Kiel Institute Working Papers |
Issue | 1165 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2003 Kiel Institute for the World Economy |